5 Reddit Stocks that Tripled in 2021

In this article, we discuss the 5 Reddit stocks that tripled in 2021. If you want to read our detailed analysis of these stocks, go directly to the 10 Reddit Stocks that Tripled in 2021.

5. Houghton Mifflin Harcourt Company (NASDAQ:HMHC)

Number of Hedge Fund Holders: 27

Year-To-Date Gain: 381%       

Houghton Mifflin Harcourt Company (NASDAQ:HMHC) is an education services firm based in Boston. The share price of the company jumped more than 24% in early November after it smashed market estimates on earnings for the third quarter. 

BMO Capital analyst Jeffrey Silber recently raised the price target on Houghton Mifflin Harcourt Company (NASDAQ:HMHC) stock to $19 from $15 and kept a Market Perform rating, noting the “very strong” third quarter earnings of the firm. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Engine Capital is a leading shareholder in Houghton Mifflin Harcourt Company (NASDAQ:HMHC) with 3 million shares worth more than $40 million. 

In its Q2 2021 investor letter, Laughing Water Capital LP, an asset management firm, highlighted a few stocks and Houghton Mifflin Harcourt Company (NASDAQ:HMHC) was one of them. Here is what the fund said:

“HMHC is the leading provider of instructional materials to students in grades K-12 in the U.S. At the end of this letter you will find a longer writeup, but in brief I believe the combination of a newly cleaned up balance sheet, slimmed down operating structure, a Covid induced acceleration of digital learning, and billions of dollars in federal stimulus set to flood the education world has put HMHC in position to gush cash over the next few years… but the market has failed to appreciate these changes. Given the pending onslaught of federal stimulus dollars I think it will be very difficult to lose money in  this investment, and if the company reinvests this cash wisely and the market recognizes how this business has evolved, there is a path to multi-bagger returns looking out a few years.”